U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-08-2013, 04:42 PM
 
Location: Studio City, CA 91604
2,083 posts, read 2,526,851 times
Reputation: 3463

Advertisements

Lots of the distressed and bank-owned homes in Las Vegas and Henderson are being bought by people in China and the Middle East and rented out as investment properties.

This is probably having an effect on the LV real estate market as well.
Reply With Quote Quick reply to this message

 
Old 01-09-2013, 07:54 AM
 
34 posts, read 94,694 times
Reputation: 37
Thanks for the input on the stats! It seems we are a little late in the real estate game. We are watching the market for houses in the 200k-275k range and were hoping we could get more than 6000 sq ft lots with that amount. It seems that every house I look at is pending. Its quite discouraging to say the least...
Reply With Quote Quick reply to this message
 
Old 01-09-2013, 01:22 PM
 
Location: Las Vegas, NV
202 posts, read 292,097 times
Reputation: 189
Default Yes indeed

Quote:
Originally Posted by mattk92681 View Post
Lots of the distressed and bank-owned homes in Las Vegas and Henderson are being bought by people in China and the Middle East and rented out as investment properties.

This is probably having an effect on the LV real estate market as well.
Confirming once again that entry-level buyers are SOL for the indefinite future.

If you want to skip the tour, jump to 5:32 :

Las Vegas Real Estate Reality - YouTube

Entire video, published on Dec 9, 2012

Las Vegas Real Estate Reality - YouTube
Reply With Quote Quick reply to this message
 
Old 01-09-2013, 02:17 PM
 
12,973 posts, read 12,145,995 times
Reputation: 5398
Quote:
Originally Posted by lvnyc View Post
Confirming once again that entry-level buyers are SOL for the indefinite future.

If you want to skip the tour, jump to 5:32 :

[
Entire video, published on Dec 9, 2012
[[/url]
It is rare to see BS stacked so high by one individual.

There are not 140,000 homes in Las Vegas owned by banks or investment trusts. Just off by a factor of ten or so.

Where do these strange folk cvome from?
Reply With Quote Quick reply to this message
 
Old 01-11-2013, 10:05 PM
 
654 posts, read 1,031,028 times
Reputation: 483
So, is this trend in upward mobility going to continue? When the prices go up, will cash buyers slowly fall to the wayside?

Will we go back to a normal market? I would suppose when prices reach a point where those that are underwater are able to sell without a short-sale or ding on their credit, we would then see normalization?
Reply With Quote Quick reply to this message
 
Old 01-11-2013, 10:19 PM
 
Location: ( ͡ ͜ʖ ͡) (╯□)╯︵ ┻━┻ ̡
7,112 posts, read 10,860,880 times
Reputation: 3866
What does a normal market look like? Was it when my home was first sold for almost 400K(first owner)? When the bank tried to sell it for half that price, but couldn't? Or when we purchased it for $125K?

Supposedly my home is worth 150K now...maybe that's normal.

The time frame from when my home was built(2007) till now, I don't think a "normal market" ever existed.


Posted from Nokia 8210
Reply With Quote Quick reply to this message
 
Old 01-13-2013, 11:23 AM
 
Location: North Las Vegas
1,631 posts, read 3,386,629 times
Reputation: 743
This article address's the difficulty of purchasing a lower priced home for the primary home buyer. The story really isn't new it's been this way ever since the crash. Investors look for low priced homes to turn into rentals so the competition to purchase those types of properties is very high.

Also homes in the low price points generally need allot of work and an investor has crews that go in and renovate the properties to make them habitable. A primary home buyer in looking in these price points usually don't have any additional money for repairs. The woman in this article is lucky to have a family in the construction business.

Cash investors in Las Vegas make foreclosure discounts, easy deals things of the past

Whether your a investor looking for a property to purchase and rent out or your the buyer that is looking for a property for yourself or a renter. You will want to read this article. It address's how increasing home prices have made it less desirable for the investor because it's causing rental rates to go down.

And as a buyer it shows that homes are still price way below what they were and can still be a good buy. Keep in mind the market is volatile even though the article says other wise we have some other caveats that could have a negative a affect on the prices. That's shadow inventory and lending guide lines, and unemployment and our economy.

Rise in Las Vegas housing prices tilts advantage to renters




Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
Similar Threads
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top